Hyderabad: The Central government is working out a new proposal in lieu of special status category for Andhra Pradesh which would be more beneficial for the state, according to Union Minister for Science and Technology Y Sujana Chowdary. Addressing mediapersons here on Friday, he said, according to the new proposal that is under consideration, the state would get 70 per cent of the funds as grant and 30 per cent in loan.

Explaining the details to The Hans India, he said that if special status category was granted the state would have got 90 per cent as grant and 10 per cent funds as loan for a period of five years, but in this case the grant and the loan will be for a period of 20 years or could even be more. Apart from this, the Centre had also agreed for interest subvention of 3 per cent to promote industrial investments in the state, as well as 15 per cent relief on capital allowance in income tax.

Source: TH